Fifth Third Bancorp Has $536,000 Stock Position in Arch Capital Group Ltd. $ACGL

Fifth Third Bancorp raised its holdings in Arch Capital Group Ltd. (NASDAQ:ACGL) by 16.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,887 shares of the insurance provider’s stock after buying an additional 852 shares during the quarter. Fifth Third Bancorp’s holdings in Arch Capital Group were worth $536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACGL. Harbour Investments Inc. grew its holdings in shares of Arch Capital Group by 8.4% during the 1st quarter. Harbour Investments Inc. now owns 1,431 shares of the insurance provider’s stock worth $138,000 after purchasing an additional 111 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Arch Capital Group by 1.7% during the 1st quarter. Resonant Capital Advisors LLC now owns 6,672 shares of the insurance provider’s stock worth $642,000 after purchasing an additional 113 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Arch Capital Group by 0.9% during the 1st quarter. Venturi Wealth Management LLC now owns 13,228 shares of the insurance provider’s stock worth $1,272,000 after purchasing an additional 115 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of Arch Capital Group by 27.7% during the 1st quarter. Hemington Wealth Management now owns 548 shares of the insurance provider’s stock worth $52,000 after purchasing an additional 119 shares in the last quarter. Finally, Horizon Advisory Services Inc. grew its holdings in shares of Arch Capital Group by 4.2% during the 1st quarter. Horizon Advisory Services Inc. now owns 2,996 shares of the insurance provider’s stock worth $288,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACGL. Jefferies Financial Group lowered Arch Capital Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $106.00 to $100.00 in a report on Tuesday, June 10th. Wells Fargo & Company cut their target price on Arch Capital Group from $110.00 to $107.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Keefe, Bruyette & Woods boosted their price target on Arch Capital Group from $102.00 to $103.00 and gave the company a “market perform” rating in a research note on Thursday, August 14th. Wolfe Research assumed coverage on Arch Capital Group in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Finally, Citigroup assumed coverage on Arch Capital Group in a research note on Wednesday, August 13th. They issued a “buy” rating and a $113.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $109.36.

Insider Buying and Selling at Arch Capital Group

In other news, insider Maamoun Rajeh sold 10,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the insider owned 433,589 shares in the company, valued at $40,822,404.35. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by insiders.

Arch Capital Group Trading Down 1.2%

ACGL stock opened at $89.83 on Tuesday. The company has a market cap of $33.53 billion, a P/E ratio of 9.27, a PEG ratio of 5.56 and a beta of 0.51. Arch Capital Group Ltd. has a twelve month low of $82.49 and a twelve month high of $116.47. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $89.88 and a 200-day moving average of $91.20.

Arch Capital Group (NASDAQ:ACGL) last released its earnings results on Tuesday, July 29th. The insurance provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.29 billion. Arch Capital Group had a return on equity of 15.33% and a net margin of 19.49%.During the same quarter in the previous year, the company posted $2.57 earnings per share. As a group, equities research analysts expect that Arch Capital Group Ltd. will post 8.42 EPS for the current year.

About Arch Capital Group

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.